Top 20 Best Saccos In Kenya [2023]


With the evolution of human life and the advancement of technology, people have invented new ways of doing things. The financial market is not left behind either. Apart from the banks, there is increased use of Saccos—Savings and Credit Cooperatives to save and borrow money in Kenya.

Locating the best saccos in Kenya to join can prove to be a daunting task especially with the over 300+ saccos licensed by SASRA to either undertake deposit-taking or non deposit-taking functions.

Generally the term ‘best’ can be relatively used by anyone with a preferential bias towards a specific factor and may generally contribute either towards the benefits or disadvantages of joining a sacco.

Likewise, when it comes to choosing the best saccos in Kenya, there is a list of considerations to have in mind before joining a sacco.

Such considerations include;

  • Sacco history: this entails the number of years the sacco has been in existence as well as its membership statistics.
  • Product variation: this involves the variety of products offered by the sacco which may include loans, savings, investments, insurance, mobile banking etc.
  • Number of branches: Saccos with several branches in different regions enable easier accessibility to members in the event of any inquiries.
  • Fees: these are charges applied during various processes e.g registration fees, mobile banking transaction fees etc
  • Membership requirements
  • Interest rates
  • Dividend payments
  • Availability of online portal
  • Availability of mobile platform
  • Customer service support
  • Sacco withdrawal process: this involves the process required when exiting a sacco e.g share transfers, account deductions etc.

There are many Saccos in the Kenyan financial market of late. It is good news since Kenyans have admitted the need to practice savings. Some Saccos are doing better than the rest. They are dominant and popular among Kenyans. Some of the best saccos in Kenya are highlighted below and they include;

List Of Best Saccos In Kenya 2022

1. Stima Sacco

Stima Sacco is one of the fastest growing and best saccos in Kenya market. Initially, it was formed to serve mainly members and employees of Kenya Power and Lighting Company, but it finally opened its doors to the general public.

The Sacco is licensed and boasts of financial assets of over 30 billion Kenya Shillings. This demonstrates why it is one of the best in the market. Its members enjoy amazing products ranging from asset financing, loans, mobile banking and mortgages. Stima Sacco has branches in major towns of Kenya.

2. Mwalimu Sacco

Mwalimu Sacco is arguably the largest in Africa. It mainly draws its members from Kenyan teachers, Sacco’s employees, and the teachers’ employer—the Teachers Service Commission. It has a strong financial base with many assets. It gives development loans to its members, which improves the living standard of people. It has a huge membership, amazing dividends, and fair credit terms.

3. Hazina Sacco

Hazina Sacco was established as early as 1971. The sole purpose was to encourage a saving culture among members. It mainly serves government ministries, parastatals, the private sector, and the county government. The Sacco allows members to access business loans, assets financing, and long-term loans. It has many branches across Kenya—in the major towns and cities.

4. Harambee Sacco

As the name (Harambee) suggests, the Sacco was started by pooling efforts together. It was done by small income earners. Currently, the Sacco has impressively grown to a membership of 80,851 across the nation. It takes pride in accumulated assets of over 19.85 billion Kenyan Shillings. It has touched many lives of its members by providing development loans.

5. Mhasibu Sacco

The Sacco was established by Institute of Certified Public Accountants of Kenya members to cater to the financial affairs of its members. Many of the members have benefited by acquiring loans for development hence improving the members’ living standards. It expands rapidly. Its current membership is over 500,000 people.

6. Sharia Sacco

Sharia Sacco is one of the best-managed Saccos in Kenya. It was birthed in 1972—it is one of the oldest Saccos. While its membership growth is rapid, its current membership stands at 10,000. As the name states, its members are individuals working with the court or associated with the law. Such as judges, magistrates, some lawyers, and the people working within the corridors of justice. Even the general public can join Sharia Sacco.

7. Kenya Police Sacco

Kenya police Sacco was established in 1972 with a membership of 690 people. There has been a significant increase in its membership over the years to 63,000 and accumulated assets are rising rapidly to 39 billion Kenyan shillings. It offers loans to members at a fair interest rate of 4% per annum. The loans are reliable, accessible, and diverse.

8. Waumini Sacco

Waumini Sacco is one of the best Saccos to handle your savings. Its credit and saving products are available to both the public and institutions. Most of its members come from the Catholic church. It has over 33,000 registered members. It empowers its members economically by offering credits and loans for development.


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